Akio Toyoda

Toyota will expand the development of its gasoline-hybrid technology to speed up the introduction of lower-emission engines. The automaker will increase staffing of its hybrid tech team by 30 percent through 2021.

A week after conceding it needs electric vehicles, longtime EV-skeptic Toyota Motor Corp. said it is forming a streamlined “in-house venture company” next month to start developing battery-powered eco-cars in a speedy, innovative way.

Didier Leroy, Toyota's first non-Japanese executive vice president, left Renault to become one of Toyota's most powerful leaders. Now he is responsible for plotting a new course to keep the Japanese carmaker competitive in a rapidly changing industry.